Devexperts adds FXCM as liquidity provider to its DXTrade platform
FX broker FXCM and broker software solutions provider Devexperts have announced that FXCM Pro, the institutional arm FXCM, will provide liquidity to Devexperts’ new trading platform DXtrade.
DXtrade launched in May 2020 and is a new off-the-shelf trading platform for forex and CFD brokers. FXCM Pro becomes one of the first major names to onboard onto the trading platform as an institutional liquidity provider.
The companies said that off-the-shelf trading platforms provide significant efficiency benefits as brokers are able to be up and running on the platform in a matter of days. However, incumbent platforms are burdened by legacy technology and are reliant upon multiple third-party vendors to ensure operability, increasing operational risk.
Devexperts said that DXtrade’s Software-as-a-Service (SaaS) off-the-shelf trading platform offers many of the benefits available from existing bespoke platforms, but with the efficiency of an off-the-shelf platform. It allows for full customisability, with brokers being able to determine everything from the layout and set-up, including the back-end configurations and user interface.
As a provider of institutional liquidity FXCM Pro will provide multi-asset liquidity to retail brokers utilising DXtrade.
Conor O’Driscoll, VP of OTC Platform at Devexperts, commented:
“FXCM Pro is the primary source of multi-asset liquidity for many brokers worldwide. Their excellent service, coupled with Devexperts’ knowledge in building trading platforms and integration for our clients into DXtrade, results in a turn-key and affordable solution for new entrants launching their forex or CFD brokerage.”
Mario Sanchez, Managing Director and Global Head of FXCM Pro Sales, commented:
“If the previous six months have shown us anything, it is that brokers’ technology has to be the greatest area of focus. With trading volumes hitting peaks during the volatility that the market experienced, brokers need to ensure that when instances like this happen and interest from traders grow, they can capitalise by onboarding clients quickly and efficiently.
“Access to competitive pricing is central to this. Partnering with Devexperts ensures that new entrants into the broker market are able to access world-leading liquidity from FXCM Pro through a truly innovative trading platform.”